Is your nonprofit’s project ready for a feasibility study? 

You’ve decided it’s time to grow, build, or revamp. You’re going to take on a capital campaign. Depending on your donor relationships, community climate, and other factors, you may be considering completing a feasibility study ahead of the campaign launch. A feasibility study can help your organization get feedback from donors and community stakeholders and test their appetite for supporting your project. While many nonprofits forego a feasibility study or conduct a low-scale version internally, most hire an outside consultant to act as a neutral interface between your audience and your nonprofit. Below are five considerations when hiring a consultant to help you carry your campaign forward. 

1. What administrative support will be required of your organization?

A feasibility study is more complex than a series of interviews. There are a considerable amount of logistical elements, including scheduling, mailings, and coordination. Make sure your consultant’s services are a fit for your team’s capacity. 

2. What if the project doesn’t get a “green light?” Does the feasibility consultant help with the next steps?

Pursuing a feasibility study is not a guarantee of a “green light” for your project. If the process reveals the project to be out of scope or lacking in support, how will your consultant help you navigate away from the project or toward other avenues for completion?

3. Does the consultant have the capacity to complete the study within the organization’s desired timeframe?

A feasibility study is designed to be a first step in a campaign – a sort of gateway to move forward. When you’re ready to get started, however, you’re ready to begin immediately. Delays in this preliminary phase can be a detriment to your momentum and overall time frame. Make sure the consultant you select is aware of your overarching plans and when you hope to have the study completed. 

4. Does the feasibility consultant know your community and its constituents?

While the onus of curating a list of interviewees should fall to your nonprofit, having a consultant who knows the networks can help. When you’re close to a project, you often have blind spots for individuals, businesses, and stakeholders that can offer valuable insight. A consultant who knows your community and all the politics, preferences, and projects that make it hum can be helpful.  

5. Has the consultant conducted a study in your area recently, or is he/she working on any other studies in your area simultaneously? 

If your consultant is interviewing Mr. Green on Monday for your organization and on Tuesday for another, you have a problem. Make sure your consultant is not over-represented on the campaign circuit. This can lead to issues with conflicts of interest, preconceived notions, and unintended influence. For example, if your consultant’s last two projects were not green-lighted and he brings your campaign to a top donor in your community, do you think they’ll be influenced positively or negatively? What if the consultant is a bigger fan of a project they’re handling simultaneously with yours?

If your consultant is a frequent flier on the feasibility circuit, how will he/she ensure the unique consideration of your project?

Three Feasibility Study Consultant Must-Have Items 

Proper insurance and licensing

Anytime you have a consultant handling money matters for your organization – be it actual cash or simply discussions, make sure they’re insured! The limits of that insurance should be proportional to your campaign goal. In many states, consultants are required to obtain a license from the state to consult on fundraising campaigns. 

Formation of Case Statement or Case for Support

If your consultant wants you to create the case statement independently – this is a flag! You don’t need a mouthpiece to simply conduct the interviews. WHAT you’re communicating is as important as who does the talking. Your consultant should be your greatest collaborator on this all-important piece. Not only will you need their insight based on their experience with other campaigns, but they need the working knowledge of your project. 

Belief in your project

Doubt is hard to hide. Even for the best actors. If your consultant doesn’t believe in your project, will he/she be able to obscure their uncertainty in interviews? A pretty big risk to take. How will you know if your consultant believes in your project? You will. Doubt is hard to hide. Also, aggressive pricing is a sign that your feasibility expert questions the feasibility of your project. They may be willing to take it on, but only for the right price.

Ready to kick-off your capital campaign? Check out our consulting and feasibility study services.